DBS Digital Transformation

DBS Digital Transformation

Shortcuts to digital harmony

DBS Digital Transformation

Shortcuts to digital harmony

Harmony integral across treasury and commercial functions

Digital technology is key to engaging customers and differentiating the brand. But few today are achieving the results they were hoping for. 

In an uncertain commercial landscape, almost all businesses are pursuing digital transformation to some extent, but just one in three describes their approach as effective. 

All too often, their teams are out of sync, or even playing completely different tunes.

So, what determines the success or otherwise of digital transformation today? 

DBS’s new research, which gathered the insight of 1,225 senior executives worldwide – and is one of the first studies to explore the finance/commercial dynamic at the heart of transformation – sought to find out.

By identifying a select group of transformation leaders, who are consistently outperforming the rest, we outline the priorities for successful, orchestrated change.

One notable characteristic of our leadership group is their willingness to give treasury and finance teams greater responsibility as they pursue their innovation goals. Their treasury and finance leaders are working in partnership with commercial to set the digital agenda and turn ambition into reality.

4 key principles of digital transformation

1. Agree on a “north star” and accept failure along the way

The transformation leaders in DBS’s research are typically fixed on a ‘north star’. This shared vision helps support a culture through which collaboration, experimentation, and rapid decision-making drive constant improvement through positive feedback loops.

2. Harmonise the relationship between finance and commercial

Transformation is more successful when your finance and commercial functions work in lockstep. Forward looking finance professionals no longer see themselves as passive observers of their businesses’ commercial performance, but as key players in enabling returns.

3. Give treasury a clear role in the finance/commercial partnership

Treasurers make a specific and valuable contributions to digital transformation – and their importance is increasingly acknowledged thanks to greater visibility in recent years. By giving treasury a more influential role in transformation, you will drive better results.

4. Build and borrow new skills and technologies within treasury

While treasury has much to offer when it comes to digital transformation, it still has the potential to make an even greater contribution. By improving the skills base of your treasury teams, you will empower them to play a more forward-thinking and outward-looking role.

  • Harmony and change: The treasury and finance perspective on digital transformation

    In a world where every organisation is under pressure to embrace digital transformation, treasury and finance teams are playing an increasingly important partnership role. New research from DBS finds there is still plenty of potential value to be unlocked.

  • The customer is king: The commercial perspective on digital transformation

    Commercial and sales teams have a clear vision for digital transformation, but research suggests that they are also disappointed by what their businesses have achieved so far. What do they need to do and who do they need to partner with to hit those right notes?

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